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LAWTON v. NYMAN

Nos. 98-288-T, 02-290-T.

357 F.Supp.2d 428 (2005)

Judith LAWTON, Thomas Lawton, Marsha E. Daras, Stephen H. Lawton, Nancy J. Cronin, David T. Lawton, T. Michael Lawton, Joanna J. Lawton, and Suzanne M. Lawton, Plaintiffs, v. Robert NYMAN, Kenneth Nyman, and Keith Johnson, Defendants, and Jeffrey Nyman, Plaintiff, v. Robert Nyman, Kenneth Nyman, and Keith Johnson, Defendants.

United States District Court, D. Rhode Island.

February 15, 2005.

Attorney(s) appearing for the Case

Joseph V. Cavanagh, Jr., Karen Ann Pelczarski, Staci L. Kolb, Blish & Cavanagh, Providence, RI, for plaintiffs.

Robert C. Corrente, William R. Grimm, Brent R. Canning, Joseph D. Whelan, Hinckley, Allen & Snyder, Providence, RI, for defendants Robert Nyman, Keith Johnson, Kenneth Nyman and Nyman Manufacturing Co., Inc.

William S. Eggeling, Joanne McPhee, Ropes & Gray, Providence, RI, for defendant Nyman Manufacturing Co., Inc.

Paul V. Curcio, James R. Oswald, Adler, Pollock & Sheehan, Providence, RI, for movant Adler Pollock & Sheehan, Inc.

Richard Donovan, Boston, MA, pro se.

MEMORANDUM AND ORDER

TORRES, Chief Judge.

The plaintiffs in this case were minority shareholders in Nyman Manufacturing Company ("Nyman"), a closely held family corporation. They claim that they were misled into agreeing to the redemption of their stock for less than its true value because the defendant directors and officers breached their fiduciary duty by failing to disclose that the corporation soon...

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